Weekly Preview | Movement is launched on the main website; SBI's crypto exchange SBI VC Trade launches stablecoin "USDC" service

News trailer:

• Movement will be launched on the main network on March 10;
• Two U.S. lawmakers plan to release "important plans" about Bitcoin on March 11 (next Tuesday) local time;
• On-chain data visualization platform Bubblemaps announced that it will launch platform token BMT on March 11;
• The modular blockchain network Hemi mainnet will be officially launched on March 12, 2025;
• SBI's crypto exchange SBI VC Trade will launch the stablecoin "USDC" service on March 12;
• Cheelee (CHEEL) will unlock approximately 20.81 million tokens worth approximately US$162 million at 8 a.m. Beijing time on March 13;
• Aptos (APT) will unlock approximately 11.31 million tokens at 6 a.m. Beijing time on March 13, with a ratio of 1.92% to the current circulation, worth approximately US$67.4 million.

March 10

Project News:

Movement will be launched on the main website on March 10

Movement released a video trailer on X platform, which will be launched on the main network on March 10.

MegaETH will accept users to join from March 10 after deploying the test network

MegaETH announced on the X platform that it will deploy a test network on March 6, and will provide exclusive access support for application and infrastructure teams from March 6 to March 10, and will accept users to join from March 10. The current test network will provide users with single-threaded performance of 1.68 Ggas/second, as well as 15 milliseconds of effective block time, and more functions will be expanded in the future. To reduce the problem of public faucets, the testnet ETH will be distributed directly to the participants' wallets during the access phase (March 10).

MegaETH said it will not provide airdrop rewards to users participating in the test network . MegaETH said that the main purpose of the public test network is to conduct technical stress testing, allow developers to explore new technological breakthroughs, and allow users to experience real-time applications for the first time. It emphasizes that although they do not oppose the points-based incentive model, this does not conform to the project's philosophy.

PancakeSwap: Simple pledged products will be closed on March 10, 2025, and users need to withdraw funds in a timely manner

PancakeSwap said on X platform that its simple pledged product will be retired at 08:00 on March 10, 2025 Beijing time. PancakeSwap says it is part of its ongoing effort to simplify products and focus on providing more sustainable, impactful products to the community. Users are advised to withdraw funds before 08:00 on March 10, 2025.

Token unlock:

Staika (STIK) will unlock approximately 1.5 million tokens worth approximately US$7.8 million at 8 a.m. Beijing time on March 10;

March 11

Policy Supervision:

Two U.S. lawmakers plan to release "important plans" about Bitcoin on March 11 (next Tuesday) local time

U.S. Rep. Nick Begich posted on X platform: "It's time to make the United States the first Bitcoin superpower. He is working with U.S. crypto-friendly Senator Cynthia Lummis to advance important plans for Bitcoin. Stay tuned for the release next Tuesday."

Project News:

Bubblemaps: Platform token BMT will be launched on March 11

On-chain data visualization platform Bubblemaps announced that it will launch the platform token BMT on March 11.

Previously , Bubblemaps will launch BMT tokens to support the on-chain survey platform Intel Desk.

March 12

Macroeconomics:

At 8:30 p.m. on Wednesday, the US unseasoned CPI annual rate in February, the US after seasonal adjustment CPI monthly rate in February, the US after seasonal adjustment core CPI monthly rate in February, and the US unseasoned core CPI annual rate in February will be announced.

Project News:

SBI 's crypto exchange SBI VC Trade will launch its stablecoin "USDC" service on March 12

SBI VC Trade, a crypto exchange under Japanese financial giant SBI Group, announced on March 4 that it has completed the registration of the first "electronic payment method and other transaction practitioner" related to stablecoin transactions in Japan. After approval, the company will begin processing the stablecoin "USDC" issued by the US Circle company on March 12. However, this function will be in the testing phase and the circulation scope is limited to the group. With the latest approval, SVI VC Trade now has three licenses: cryptocurrency exchange business, class I financial instrument business and electronic payment instrument trading business.

Hemi main network will be launched on March 12 to integrate Bitcoin and Ethereum ecosystem

The modular blockchain network Hemi Mainnet will be officially launched on March 12, 2025, aiming to achieve in-depth integration of Bitcoin and Ethereum through Hemi Virtual Machine (hVM). At present, Hemi has locked in TVL for more than US$300 million and has received US$15 million seed round financing support from investment institutions such as Binance Labs and Breyer Capital .

The core features of Hemi:

• EVM has built-in Bitcoin nodes to implement Bitcoin smart contract functions

• Inheriting Bitcoin security and providing a "hyper-final" transaction confirmation mechanism

• Cross-chain asset transfer without trust, seamlessly move assets between Bitcoin and Ethereum through “Tunnels”

• Compatible with Ethereum development tools, supports a variety of DeFi applications such as DEX, lending, LST/LRT staking, and perpetual transactions.

Founded by early Bitcoin developer Jeff Garzik and blockchain security expert Max Sanchez, Hemi is committed to building a super network of Bitcoin and Ethereum that integrates efficient, secure and scalable Web3 infrastructure.

Lombard Finance to launch its Bitcoin liquid staking token LBTC on Sui Blockchain on March 12

Lombard Finance announced that its Bitcoin liquid staking token LBTC will launch the Sui blockchain on March 12, the first time LBTC has integrated into a non-EVM-compatible chain. At present, LBTC has been deployed in EVM-compatible networks such as Ethereum, Base and BNB Chain, with circulation of nearly US$2 billion, of which 70% have been used in DeFi protocols such as Aave and Morpho. LBTC will be supported by Sui Wallet and Phantom Wallet and will be first integrated into the highest Sui protocols for TVLs such as Cetus, Navi Protocol and SuiLend. In addition, Lombard Finance plans to launch incentives to encourage Bitcoin adoption of Sui ecosystem and suggest that it may expand to more non-EVM networks in the future.

March 13

Exchange:

Coinbase International Station will launch VVV, COOKIE and BIO perpetual contracts on March 13

Coinbase International Exchange announced that it will launch Perpetual Futures of Venice Token (VVV), Cookie DAO (COOKIE) and Bio Protocol (BIO) at or after March 13 at 17:30 (East Eighth Time), to support trading on the Coinbase International Exchange and Coinbase Advanced trading platforms.

Token unlock:

Cheelee (CHEEL) will unlock approximately 20.81 million tokens worth approximately US$162 million at 8 a.m. Beijing time on March 13;

Aptos (APT) will unlock about 11.31 million tokens at 6 a.m. Beijing time on March 13, with a ratio of 1.92% to the current circulation, worth about 67.4 million US dollars;

March 14

Exchange:

Binance will stop supporting some network recharge and withdrawals on CTXC, NULS and UFT on March 14

Binance announced that it will cease the recharge and withdrawal support of the following tokens through the designated network from 16:00 on March 14, 2025:

• Cortex (CTXC) via Ethereum Network
• NULS (NULS) via BNB Smart Chain
• UniLend (UFT) via BNB Smart Chain

From the above time, tokens recharged through these networks will not be available, which may lead to asset losses. Users can still recharge and withdraw tokens through other networks supported by Binance.

Market analysis:

Analyst: SOL spot ETF may be approved as early as March 14, and at the latest October 10

Sosovalue macro analysts said that according to the current SEC regulatory framework, cryptocurrency spot ETFs need to undergo dual review of S-1 registration documents and 19b-4 exchange rule adjustment documents. The SEC must publish the preliminary review results within 45 days after accepting the 19b-4 document and make a final review decision within 240 days at the latest.

Take Grayscale Solana Trust as an example, its 19b-4 document was accepted by the SEC on February 12. The SEC can refuse or extend the first 30 days, but cannot directly approve it. Therefore, the earliest approval window is March 14 and the initial review deadline is March 29. This time may send out key regulatory signals. If Grayscale Solana Trust is approved, Bitwise Solana ETFs, such as SOL spot ETFs that adopt the same exchange rule adjustment scheme, may be approved simultaneously, and market liquidity is expected to initiate a pricing reaction at this stage. If we refer to the approval time of Bitcoin spot ETF (up to 240 days), the latest approval date for SOL spot ETF is October 10, 2025. However, under the current regulatory environment, the market generally expects that the SEC approval process may accelerate.

Token unlock:

Polyhedra Network (ZKJ) will unlock approximately 17.22 million tokens at 8 a.m. Beijing time on March 14, with a ratio of 28.52% to the current circulation and a value of approximately US$35.3 million;

March 15

Project News:

Babylon Foundation airdrop registration will be closed on March 15

The Babylon Foundation has previously opened the airdrop registration page and will end on March 15. This airdrop mainly includes the first-stage stakers, the first-stage finality providers, and contributors to the qualified Github repository.

Token unlock:

Connex (CONX) will unlock about 4.33 million tokens at 8 a.m. Beijing time on March 15, with a ratio of 376.3% to the current circulation, worth about US$78 million;

Sei (SEI) will unlock approximately 55.56 million tokens at 8 pm on March 15th, Beijing time, with a ratio of 1.19% to the current circulation and a value of approximately US$11.8 million;

Starknet (STRK) will unlock approximately 64 million tokens at 8 a.m. Beijing time on March 15, with a ratio of 2.33% to the current circulation, and a value of approximately US$11 million;

March 16

Project News:

Circle: Linea will implement the upgrade of bridging USDC to native USDC, and is expected to suspend USDC.e 's bridging on March 16

According to Circle's official blog, Linea will become the first blockchain to upgrade from bridged USDC (USDC.e) to native USDC (USDC), and will support Circle's cross-chain transmission protocol CCTP V2 in the upcoming mainnet. The upgrade is expected to suspend USDC.e 's bridging on March 16 and complete the conversion within 1-2 weeks, without any action required by users or developers. After the upgrade, the existing USDC.e will be automatically converted to USDC and the contract address remains unchanged. Currently, more than $19 million of bridged USDC has been circulated on Linea’s chain, accounting for 71% of its stablecoin supply.

EigenLayer: Application for airdrops for the second quarter is scheduled to end on March 16

The Eigen Foundation announced on X that the application for the second quarter airdrop will be opened on September 16, and the application window will last until March 16, 2025. In addition, a programmatic incentive program is about to be launched, which will issue weekly EIGEN and reward pledgeers and operators.